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IMVTImmunovant, Inc.
$30.53$6.3B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
IMVT logo

Immunovant, Inc.

IMVT
NASDAQ · Immunology Biotech
$30.53
At close - Nov 6, 4:00 PM EST - USD
Market Cap$6.3B
P/E-11.7x
52W High$45.42
Volume2.66M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2027Q1

Nascent Revenue Emergence Amid Escalating R&D Burn

Immunovant is transitioning from a pure development-stage biotech to early commercialization, evidenced by its first $7.1M revenue in 2027Q1 with a 100% gross margin.

GrowthDecelerating
ProfitabilityNegative
ValuationReview
TechnicalsWeak
Explore valuation models
MARKET ACTION

IMVT price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

5/12 Beats

EPS beat 5 of last 12 quarters

02

Valuation risk

-136% Peers

P/E is 136% below peer median

03

Market leadership

RS 49 · Lag

Laggard (Underperforming 51% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystConfirmed earnings · Nov 9
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue emerged at $7.1M in 2027Q1 with a 100% gross margin, but R&D expenses surged to $142.6M, driving operating losses to -$153.2M and a net margin of -21.6%.

Analyst Consensus+31.0% target
Buy(23 analysts)
18 Buy4 Hold1 Sell

The Bull Case

Upside Catalysts

Strong clinical data for IMVT-1402

IMVT-1402 demonstrated strong open-label activity in difficult-to-treat rheumatoid arthritis with no new safety signals, supporting its potential efficacy.

Upcoming clinical milestones

D2T RA and CLE updates expected in 2H 2026 serve as near-term catalysts for potential stock re-rating.

Robust cash position

With over $900 million in cash, Immunovant is well-funded to advance its clinical programs through announced indications.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/9/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
IMVT+17.83%
S&P 500 (^GSPC)+7.63%
1-Year Return
IMVT+28.98%
S&P 500 (^GSPC)+9.69%
3-Year Return
IMVT-9.51%
S&P 500 (^GSPC)+78.80%
5-Year Return
IMVT+246.15%
S&P 500 (^GSPC)+70.51%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E
-11.7x
Forward P/E
N/A
EV/EBITDA
N/A
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-11.7x
N/A
N/A
EV/EBITDA
N/A
N/A
N/A
Price/FCF
N/A
N/A
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$4.37-85.7%
Base (Fair)$29.31-4.0%
Bull$4.37-85.7%
$4.37 Bear$29.31 Base$4.37 Bull
Current Market Price: $30.53
Trades at a 4.2% premium to Base DCF ($29.31)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY26
-
Net income FY26
-$506M-22.2% YoY
Free cash flow FY26
-$407M-8.1% YoY
Operating margin FY26
-
ROIC (FY26)-
Avg ROIC 5Y-
ROE (TTM)-69.6%
Piotroski Score2 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate5/12 (42%)
Revenue Beat Rate0/12 (0%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
-$0.75-19.3%
vs -$0.63
$7M+0.0%
vs $7M
Q2 2026
May 20, 2026
-$0.73-23.3%
vs -$0.59
—
vs —
Q1 2026
Feb 6, 2026
-$0.61+15.3%
vs -$0.72
—
vs $6M
Q4 2025
Nov 10, 2025
-$0.73-1.4%
vs -$0.72
—
vs —
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
GlobeNewsWire·Oct 21, 2026
Immunovant to Report Financial Results for the Second Fiscal Quarter Ended September 30, 2026, and Provide Business Update on Monday, November 9, 2026

DURHAM, N.C., Oct. 21, 2026 (GLOBE NEWSWIRE) -- Immunovant, Inc. (Nasdaq: IMVT) today announced that it will report its financial results for the second fiscal quarter ended September 30, 2026 on Monday, November 9, 2026 before the market opens. Roivant Sciences Ltd. (Nasdaq: ROIV), Immunovant's majority stockholder, will host a live conference call and webcast at 8:00 a.m. ET that same day, which will include a business update for Immunovant.

GuruFocus·Oct 12, 2026
Kuehn Law Encourages Investors of Immunovant, Inc. to Contact Law Firm

Kuehn Law Encourages Investors of Immunovant, Inc. to Contact Law FirmPR NewswireNEW YORK, Oct. 12, 2026NEW YORK, Oct. 12, 2026 /PRNewswire/ -- Kuehn Law, PLLC,

Zacks Investment Research·Sep 24, 2026
IMVT Ends Cutaneous Lupus Erythematosus Program, Stock Down

Immunovant's IMVT-1402 misses its primary CLE goal, prompting the company to halt the program despite positive trends and a favorable safety profile.

GlobeNewsWire·Sep 23, 2026
Roivant Announces Topline Results from Proof-of-Concept Study of IMVT-1402 in Cutaneous Lupus Erythematosus

Immunovant's proof-of-concept study of IMVT-1402 (imeroprubart) in cutaneous lupus erythematosus (CLE) did not achieve statistical significance on the primary endpoint of Cutaneous Lupus Erythematosus Disease Area and Severity Index Activity (CLASI-A) percent change from baseline at Week 12 Positive trends were observed on multiple endpoints, with deeper IgG reductions resulting in improved clinical outcomes, but the study did not meet Immunovant's internal bar to continue development of IMVT-1402 in CLE IMVT-1402 demonstrated a favorable safety and tolerability profile, consistent with prior studies All other clinical development timelines remain on track BASEL, Switzerland and LONDON and NEW YORK, Sept. 23, 2026 (GLOBE NEWSWIRE) -- Roivant (Nasdaq: ROIV) today announced topline results from Period 1 of Immunovant's proof-of-concept trial evaluating IMVT-1402 (imeroprubart) for the treatment of cutaneous lupus erythematosus (CLE).

Filtered for Immunovant, Inc.More Headlines
04

Compare before deciding

Benchmark IMVT against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Immunovant, Inc. (IMVT)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
IMVT logoIMVTImmunovant, Inc.Current
$30.53$6.3B-11.66—-7585.86%-69.59%—
ARDX logoARDXArdelyx, Inc.
$2.88$711.44M-12.9822.09%-11.85%-35.3%—
RCUS logoRCUSArcus Biosciences, Inc.
$18.28$2.3B-5.23-4.26%-445%-90.04%—
VKTX logoVKTXViking Therapeutics, Inc.
$26.84$3.13B-5.05——-117.35%—
PRAX logoPRAXPraxis Precision Medicines, Inc.
$277.62$7.74B-23.85-100%—-34.15%—
ALXO logoALXOALX Oncology Holdings Inc.
$1.16$156.09M-1.95——-90.3%—

Compare IMVT vs Peers

Immunovant, Inc. (IMVT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ARDX

Most directly comparable listed peer for IMVT.

Scale Benchmark

vs JNJ

Larger-name benchmark to compare IMVT against a more recognizable public peer.

Peer Set

Compare Top 5

vs ARDX, RCUS, VKTX, PRAX

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

IMVT SEC Filings & Documents

Immunovant, Inc. (IMVT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 6, 2026·SEC

Material company update

May 20, 2026·SEC

Material company update

Feb 6, 2026·SEC

10-K Annual Reports

3
FY 2026

May 20, 2026·SEC

FY 2025

May 29, 2025·SEC

FY 2024

May 29, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 6, 2026·SEC

FY 2026

Feb 6, 2026·SEC

FY 2025

Nov 10, 2025·SEC

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IMVT Frequently Asked Questions

Immunovant, Inc. (IMVT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Immunovant, Inc.'s revenue?

Immunovant, Inc. (IMVT) reported $7.1M in revenue over the trailing twelve months.

Is IMVT profitable?

No. Immunovant, Inc. (IMVT) reported a net loss of $538.2M over the trailing twelve months.

Dividend & Returns
What is IMVT's return on equity?

Immunovant, Inc. (IMVT) had a return on equity (ROE) of -69.6% over the trailing twelve months. A negative ROE means the company lost money over the period.

What is Immunovant, Inc.'s free cash flow?

Immunovant, Inc. (IMVT) had negative free cash flow of $414.3M over the trailing twelve months.

What if you invested $1,000 in IMVT back in 2018?

Total return calculator · dividends reinvested · 8+ years of data

See returns →